/Playbook
Credit for Platform-Based Gig Workers
Enhancing access to formal credit for India’s growing platform-based gig workers
Project Overview
This study explores the financial behaviours, challenges, and credit needs of platform-based gig workers—examining service accessibility, loan barriers, and market gaps. Insights from research and interviews highlight opportunities to design inclusive, tailored financial solutions.
Market Study
An Overview of India’s Gig-Workers
7.7 mn
Current population of Gig workers in India
23.5 mn
Gig Workers in India by 2030 as projected by Niti Aayog
₹21.74 tn
worth of work is expected to be transacted through gig platforms in the long term
1.25%
Is the expected contribution of gig work to India’s GDP over the long term
Our Approach
DISCOVER
The Discover Phase of the Gig Study focused on capturing the diverse financial behaviours of gig workers through a mix of secondary research, dipstick studies, and in-depth interviews—ensuring a deep understanding of their earning patterns, credit needs, and financial challenges.
DEFINE
The ‘Define’ phase translates raw data into actionable insights by identifying patterns, themes, and opportunity areas from gig worker’s financial behaviours and preferences. Through synthesis techniques like affinity mapping, pruning, and validation, we distilled qualitative findings into clear problem statements and personas, ensuring our solutions address real user needs and are scalable for broader impact.
DESIGN
The Design Phase translates research insights into actionable solution principles, ensuring that product development is guided by real user behaviours and financial needs.
DEVELOP
The Develop Phase focuses on translating solution principles into a functional prototype, leveraging alternative data and innovative underwriting models. Through close collaboration with financial institutions, we refine the product iteratively—testing, validating, and optimising it to ensure feasibility, scalability, and seamless integration into existing systems.
DEPLOY
The Deploy Phase brings the solution to real users through a structured pilot, integrating it within the ecosystem to assess adoption, usability, and impact. Continuous monitoring and feedback loops help refine the product, ensuring it meets user needs while aligning with institutional goals, ultimately paving the way for wider rollout and long-term viability.
